The nation's largest residential fair-lending settlement will resolve government allegations that Bank of America's Countrywide Financial unit discriminated against minority home buyers during the frenzied days of the mortgage boom.
Bank of America Corp. agreed to pay a record $335 million to resolve a government claim that its Countrywide Financial unit discriminated against minority home buyers during the frenzied days of the mortgage boom.
The Justice Department alleged that Countrywide charged higher interest rates and fees to African American and Latino home buyers than to white applicants with similar income levels and credit scores. It marks the largest residential fair-lending settlement in history….
http://www.latimes.com/business/la-fi-bank-america-settlement-20111222,0,5971910.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+latimes%2Fmostviewed+%28L.A.+Times+-+Most+Viewed+Stories%29
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